Eyebrows Raise At Trump's Claim China Will More Than Double Its Agricultural Purchases

Credit: Wochit
Published on December 15, 2019 - Duration: 00:46s

Eyebrows Raise At Trump's Claim China Will More Than Double Its Agricultural Purchases

American farmers welcomed the announcement of an interim trade agreement between the US and China on Friday.

But according to Markets Insider, they remained skeptical that China would more than double its farm purchases from the US.

As part of a so-called phase-one deal, the White House has said China would purchase a steep $50 billion worth of agricultural products from the US annually.

China has turned to other countries over the past year to avoid tariffs.

That's created additional competition for American farmers.

Asked when China would begin to ramp up US agricultural imports, Trump replied: "pretty soon." Farmers have been hit particularly hard by the 19-month dispute between the largest economies.

Its tested the loyalty of a key Trump constituency ahead of an election year.

In 2018, US farm exports to China fell to below $10 billion.

Trump has his own narrative on the farm situation.

We are still short the profit we should have expected without the trade issue looming over the market.

Dave Walton, Iowa soybean grower


You are here

Recent related videos from verified sources

U.S., China sign 'Phase 1' trade deal, but holes remain 02:44
Credit: Reuters - Politics - Published on January 15, 2020 

You might like